The U.S. and Belgian affiliates of KPMG, Int'l have agreed to a preliminary settlement of the claims brought against them as part of the Lernout & Hauspie securities class action pending in the D. of Mass. (The 10b-5 Daily has previously posted about discovery issues in the case.) KPMG acted as the company's auditor.
The settlement is for $115 million. The New York Times reports the settlement "would be the second-largest ever paid by KPMG, after the $125 million resolution reached last year in connection with its role as auditor of Rite-Aid."Posted by Lyle Roberts at October 8, 2004 6:10 PM | TrackBack